Ukrainian Foreign Minister Dmytro Kuleba asked Saudi Arabia to 'resolve' the energy crisis plaguing his war-torn nation amid Russia's war.
Oil giant Saudi Aramco said Sunday its profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and surging oil prices following Russia’s invasion of Ukraine.
Russia is looking to ease strains to its market caused by massive international sanctions and gas boycotts by opening the Nord Stream 2 pipeline domestically.
The Saudi Arabian government issued a statement Monday saying it will not "bear any responsibility" for global oil shortages after several of their facilities were targeted by Yemen's Iran-backed Houthi rebels over the weekend.
State oil giant Saudi Aramco said Sunday that its 2021 net profit more than doubled to $110 billion, a boon to the Middle East’s largest economy as it seeks to use its hefty profits for investment opportunities domestically and abroad.
Saudi Arabia is in active talks with Beijing to price some of its oil sales to China in yuan, people familiar with the matter said, a move that would dent the U.S. dollar’s dominance of the global petroleum market and mark another shift by the world’s top crude exporter toward Asia.
Saudi Arabia transferred shares worth about $80 billion in oil giant Aramco to its wealth fund as part of efforts to diversify the kingdom's hydrocarbon-dependent economy.
Saudi Arabia's Crown Prince Mohammed bin Salman announced plans on Tuesday to launch a second national airline as part of a broader strategy to turn the kingdom into a global logistics hub as it seeks to diversify from oil.
Saudi Arabia's state-backed oil giant Aramco announced Sunday that its profits nearly halved in 2020 to $49 billion, a big drop that came as the coronavirus pandemic roiled global energy markets.
Saudi Arabia’s Crown Prince and de facto ruler Mohammed bin Salman has put Public Investment Fund (PIF), Saudi Arabia’s main sovereign wealth fund, at the centre of reforms aimed at diversifying the economy of the world’s top oil exporter away from fossil fuel.
All major oil companies have taken a hit in the second quarter as lockdowns to contain the coronavirus limited travel.
Apple, the maker of iPhones, has toppled the world's biggest company in value, despite the coronavirus pandemic.
OPEC+ had initially agreed in April that it would cut supply by 9.7 million barrels per day during May-June to prop up prices that collapsed due to the coronavirus crisis.
Saudi Aramco plans to cut capital spending to between $25 billion and $30 billion in fiscal year 2020, down from $32.8 billion a year ago.
Saudi oil giant Aramco may cut its dividend to the Saudi government, but is likely to maintain payouts to minority shareholders as a plunge in crude prices shrinks first-quarter profits, analysts said.
Major U.S. lenders are preparing to become operators of oil and gas fields across the country for the first time in a generation to avoid losses on loans to energy companies that may go bankrupt, sources aware of the plans told Reuters.
Rout in energy prices has sparked Chesapeake Energy Corp. looks for debt help
Oil giant Saudi Aramco is witnessing a decline in profit while the war on oil price wages on amid the coronavirus pandemic.
Saudi Arabia has been producing around 9.8 million barrels per day, carrying the bulk of cuts that were agreed upon by OPEC members and other major oil producers, namely Russia, to stave off an oversupply in the market that would further push prices down.
Oil futures on Monday suffered their biggest one-day percentage plunge since the Gulf War in January 1991